ipl-logo

Charge Cards Advantages

1016 Words5 Pages

Charge cards provide you with the convenience of purchasing power based on your agreement to pay the full amount of the charges due each month, so there is no finance charge. The American Express Card for Students (the green Card) is an example of a charge card.

Credit cards provide you with a revolving loan—or credit limit—based on your agreement to pay at least the minimum amount due on the amount of credit you use by the payment date. A finance charge is applied to the outstanding balance—the amount you do not pay by the due date. For example, if you purchase $200 in one month and you pay the minimum amount due of $15, you will pay a finance charge on the outstanding balance the next month. The American Express Credit Card for Students …show more content…

The difference between a credit card and a debit card is that a debit card accesses the money in your bank or investment account to pay for purchases. The payment amount is transferred from your account to the merchant's account the same day—you do not have a "float" of a few days between the time of purchase and payment collection. An advantage of a debit card is that you can't spend money you don't have—you don't create debt—because you aren't buying on credit; you are paying with funds in your bank or investment account. A disadvantage is that debit cards are not subject to many of the consumer legal rights that apply to credit cards regarding returns, resolution of errors, fraud or other issues. Which credit card do you prefer is the Premium cards such as the Platinum are such as that offer additional benefits such as travel upgrades, special insurance or exclusive seating for concerts. Generally, premium cards require a substantial income and an excellent credit history, offer a higher credit limit, and may charge higher fees. To find out if I qualify for one of these cards, call the company's toll-free number to learn about application requirements and costs. Apply only if I fulfill the application requirements, and if the card provides I with benefits and services you believe to be

Show More
Related

  • Johnson And Sawyer Case Summary

    447 Words  | 2 Pages

    Problem 143 The issue is whether Johnson was discharged by the alteration of the check and what reply should the bank’s attorney make. UCC §§3-115, 3-407, 3-406, and 4-401(d), addressed the alteration of instruments, whether an instrument is properly payable, the issue of discharge, negligence of an altered instrument and the good faith rule. It also addressed which party is liable when an instrument is altered and when is the bank is responsible to re-credit an account. Specifically, for this issue, I will use UCC §4-401 (d): A bank that in good faith makes payment to a holder may charge the indicated account of its customer according to: (1) the original terms of the altered item; or (2) the terms of the completed item, even though the bank knows the item has been completed un- less the bank has notice that the completion was improper.

    Read More

  • Summary Of Is College Worth It

    884 Words  | 4 Pages

    However, in special cases, a student may be excused from a college debt if they have an “undue hardship”. These special cases are very rare. Also, most colleges take advantage of the fact that they can raise the tuition fee and it allows them to make easy money because of federal lending policies. Colleges rack up money from the faculties students will use, the admission cost, the unnecessary academic programs students will take, and the trivial student programs that students choose for an easy grade. The authors also state, “Many parents are under the assumption that if

    Read More

  • It's Time To End Tuition Analysis

    371 Words  | 2 Pages

    Going to college is similar to going to the casino, in the sense that many people are told they should be willing to take a loss for a possible win in the end. In his essay “It’s Time to End Tuition,” Jon Wiener tackles the problem we have in America in which students incur massive amounts of debt as a result of attending college. He is successful in painting a picture for his audience with an analogy describing how many people attending college in pursuit of higher education end up owing “more on their student loans than they do on their credit cards” (Wiener). In order to stop student loan debt problems in America we should provide more opportunities for individuals who desire more education by making tuition at public colleges free which

    Read More

  • Thoreau's Argument Against Student Debt

    756 Words  | 4 Pages

    It’s something that young people want to pursue in. However, debts should be completely vanished. One idea to make this accomplished is by promoting public colleges or by regulating the private ones. In a piece of writing called A Strike Against Student Debt, it states,“We also need to bring back the option of a public, tuition-free college education once represented by institutions

    Read More

  • What Is The Credit Card Companies Role In Causing Student Debt By Carlos Macias

    948 Words  | 4 Pages

    attack students with mail? (Macias 282). All of those phrases evoke a negative feeling about credit card companies. Macias also does a great job portraying that credit card companies see college students as ? easy targets?

    Read More

  • Argumentative Essay: The Issue Of Student Loan Debt

    1032 Words  | 5 Pages

    According to the last recording of student loan debt, the total amount of the United States student loan debt is roughly one and a half trillion dollars (A look at…). Statistics like these present the urgent need to resolve the major financial issue of student loan debt. Solutions have been given by many people to solve this issue but most solutions fail. The main reason behind student loan debt is falling to far into debt to the point where it is almost impossible to come back. The origin behind all of this is a lack of a student loan amount cap.

    Read More

  • Should College Students Get Paid After College

    945 Words  | 4 Pages

    Loans can quickly turn into a substantial amount of debt by the time a student completes their standard 4 year degree. As a result, this debt can carry on throughout their adult life and make starting that life more difficult. “A record share of students are leaving college with a

    Read More

  • Student Loan Debt

    301 Words  | 2 Pages

    These included with some saved up money can help Americans graduate debt free. As Americans we have been taught by society that student loan debt is “good debt”. This is extremely untrue considering the statistics showing that millions of Americans can’t even afford their monthly student loan payment. America alone has over one

    Read More

  • Student Debt Consequences

    528 Words  | 3 Pages

    Drowning in Debt: What are the Consequences of Student Loan Debt in the U.S.? Student loan debt has a big impact on students decisions, student debt influences a lot on how they spend their money. American Student Assistance (ASA) recently made a survey, with this survey they found out that the Students with loan debt are postponing important decisions in their lives. Many of the students that participated in the survey are waiting to buy a home, get married, have children, save for retirement, and some of them haven’t been able to enter the career field that they wanted all because of their debt.

    Read More

  • Summary Of The Documentary 'Maxed Out'

    612 Words  | 3 Pages

    As an american citizen I believe credit card companies should treat people with the utmost respect. When a consumer says they aren’t interested in buying into their credit schemes, they should leave them alone. Major businesses are none for harassing families tirelessly until consumers give in to their advances. On the other hand as consumers we must educate ourselves when getting involved when these major companies.

    Read More

  • Student Debt Argumentative Essay

    901 Words  | 4 Pages

    The total U.S. student loan debt now surpasses $1.2 trillion and there is more than 40 million recipients owing on federal and private student loans (Malone). Most of the college students in the United States can’t afford their education by themselves and, as a result, students end up drowning in student loans in order to earn a degree. Student debt is a major problem in the US, and it is a major influence on the gap between rich and poor. A more accessible college education would help reduce the gap between rich and poor in the United States.

    Read More

  • The Benefits Of B-Cards

    619 Words  | 3 Pages

    Many people depend upon their vehicles to get them around. Unfortunately, when you combine alcohol and driving, sometimes the result is the loss of driving privileges for a time. The amount of time you actually lose your driving privileges in many cases depends upon the extent of the DWI as well as the number of previous alcohol-related convictions. In some cases, the person will be issued a B-Card, which is a restricted license, before being allowed to return to driving.

    Read More

  • The Pros And Cons Of Student Loans

    585 Words  | 3 Pages

    Student loans have always seem to be a controversial topic. Many people are in agreement and disagreement over the opportunity to student loans. Student loans can be a great advantage to many students, but it can also drown them in an immense debt, that will follow them for many years. The more we analyze this perspective, we are able to distinguish the advantages and disadvantages of student loans. There is a variety of perspectives on student loans, some involving annual salaries, interest rates, and commodity.

    Read More

  • Argumentative Essay On Student Loans

    378 Words  | 2 Pages

    Student loan debt loads have been spiraling, doubling over the last decade, and the enrollment rates of young people from lower socio-economic groups are rising far slower than middle and upper groups. Governments must recognize the renewed public investment in post secondary education is an economic and social imperative. 6.7 million borrowers in repayment mode are delinquent (Snider 1). The sad fact is that many lenders aren't exactly incentivized to work with borrowers. Unlike all other forms of debt, student loans can't be discharged in bankruptcy.

    Read More

  • Apple Value Proposition

    1567 Words  | 7 Pages

    Apple Pay’s value proposition to consumers is mainly the ease of use and peace of mind with security that they provide free of charge. Apple Pay reduces the need for consumers to grab a card out of their wallet or purse every time they need to make a purchase. It also reduces interaction time between consumers and associates at stores, hopefully preventing the inevitable promotions pushed on customers at checkout. Ideally, it makes purchasing goods easier from every aspect.

    Read More

More about Charge Cards Advantages

Open Document